Consultant Spotlight: Heather Teed
What do you find most interesting when performing pricing analysis?
I love logic puzzles and pricing analysis is a big logic puzzle. I like that each situation is different every time.
What is the number one thing to consider when pricing on a contract?
If it is a solution, being able to describe that one unique thing your firm brings to the table to deliver the best price to the end client. If it is a commodity, why is your price the best? If you can’t be cheaper, why are you better or faster?
How can the proposal team support the pricing team?
Make sure the Cost/Price Volume is treated like any other Volume. It should have a schedule, outline, compliance matrix, and reviews. You may have different reviewers as data in the Volume is company confidential, but that does not mean you forgo reviews. The Cost/Price Volume should be developed in concert with the Technical/Management/Past Performance Volumes –- making sure the end client can trace the connections between all the Volumes to the Cost/Price Volume. The numbers and types of staff proposed by position within the Technical/Management Volumes should align to the labor categories described in the Cost/Price Volume, with a map between position names and labor categories if they differ. The Past Performance References cited should be used as support for your Basis of Estimate (BOE) in the Cost/Price Volume. It is very easy to overlook the connections between the Volumes and to develop them in a vacuum. The best proposals I have worked on have well developed connections between all the Volumes.
How many pricing reviews do you recommend?
It really depends on the size and length of time we have, as well as if a client is bidding alone or with a team. For the text of the Volume, at a minimum, there should be a review of the annotated outline, a review of the draft and a review of the final. There should also be at least two reviews of just the numbers, at a minimum. Ideally the first review will have input from the capture team on the Price-To-Win with an initial price for the proposed solution. The second review should be of the final solution with sign off from senior management and capture. These may or may not be formal reviews and they may happen in conjunction with one another if the proposal team is small and time is short.
Where was your last vacation and what was the highlight of the trip?
My last vacation was to Breckenridge, Colorado. The highlight of the trip was dinner at The Historic Mint in Silverthorne, Colorado nearby. Not only do you get to pick and grill your own food, but the building itself dates to 1862. It was originally a saloon. It was dismantled and moved a few times in its long history. The current owners restored the original wooden bar and brought the Mint back as close as possible to what it originally looked like. It was fun to imagine what happened in that building as you walked across the same floor boards that were once Jack Ryan’s Saloon patronized by thirsty miners during the Gold Rush in Colorado (started in 1859, ten years after California’s started).
Do you have any hidden talents?
My hidden talent is that I drive a manual transmission (stick). Every car I have ever purchased for myself has had a manual transmission. It is getting harder and harder to find them, but I love driving a manual. This talent paid off when I went to Ireland. I got to be the driver of the rental car.
If you could meet anyone in the world (dead or alive) who would it be and why?
My maternal Grandfather passed away from ALS (Lou Gehrig’s Disease) when I was in third grade. I wish I could meet my Grandfather again and talk to him about life and business. He ran his own butcher business and was a volunteer fireman (the ladder truck was dedicated in his memory after he passed away). I would have loved to have heard his advice about business and life. He always treated everyone kindly and he was very active in his community. I was far too young when he passed away to ask all the questions I would have loved to ask him.
